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DANMARKS STØRSTE INVESTORSITE MED DEBAT, CHAT OG NYHEDER

TANK - Frontline Q2/10 report / Dividend of $0.75


32497 fcras 27/8 2010 07:35
Oversigt


Press release from Frontline Ltd. 27.08.2010


Highlights

·Frontline reports net income attributable to the Company of $81.3 million and earnings per share of $1.04 for the second quarter of 2010.

·Frontline reports net income attributable to the Company of $161.0 million and earnings per share of $2.07 for the first half of 2010.

·Frontline announces a cash dividend of $0.75 per share for the second quarter of 2010.

·In June 2010, Frontline ordered two 156,900 dwt Suezmax newbuildings with expected deliveries in February and May 2013 and secured options for two similar Suezmax newbuildings.

·In May and June 2010, Frontline took delivery of the two 2009-built VLCCs, Front Eminence and Front Endurance.

·The third and fourth VLCC newbuildings from Shanghai Waigaoqiao Shipbuilding Co., Ltd., Front Cecilie and Front Signe, were delivered in June and August 2010, respectively.

· The third and fourth Suezmax newbuildings from Jiangsu Rongsheng Heavy Industries Co., Ltd., Front Odin and Front Njord, were delivered in May and August 2010, respectively.

·In June 2010, Frontline received notices from the owners of two chartered-in 2001-built Suezmax tankers and two chartered-in 2000-built VLCCs that the owners exercised their option to extend the charter period for two years to the end of 2013 from the expiry of the mandatory lease period at the end of 2011.

- more here:

http://frontline.bm/IR/press_releases/1440902.shtml

FRO, FRO.OL




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